New Zealand services activity slows in August - survey
WELLINGTON, Sept 16
WELLINGTON, Sept 16 (Reuters) - Expansion in New Zealand's services sector eased off a seven year high in August, as activity slowed across the board, although the sector remained firmly in expansion territory, a survey showed on Monday.
The Bank of New Zealand-Business NZ's seasonally adjusted performance of services index (PSI) fell to 53.2 from 58.2 in August. The index was at its lowest since the start of the year, in contrast to July's reading, which had been the highest since August 2007.
A reading above 50 indicates expansion in activity.
All of the PSI's five sub-indices declined with the sharpest falls in new orders and sales.
Last week, a companion manufacturing survey showed activity in August slowed from a nine year high, but remained in solid expansion.
The GDP-weighted composite index, which combines the manufacturing and services surveys, fell 4.4 points to 54.0, the lowest since January. (Editing by Shri Navaratnam)
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image